Belmont Responds to Lawsuit

Apr 6, 2023

Vancouver, B.C. Canada, April 6, 2023; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) was notified, last Monday April 3, of a lawsuit filed in the Supreme Court of British Columbia by Marquee Resources. The lawsuit relates mainly to Marquee’s claim that Belmont has failed and refused to transfer an 80% interest in the Kibby Center lithium property in Nevada, USA to Marquee pursuant to an option agreement dated November 1, 2021.

The Company believes that the complaint against it is unfounded and without merit. Belmont is not commenting further at this time as these matters are before the courts.

About Belmont Resources

Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:

  • Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry;
    2022 drilling suggest interception of peripheral of porphyry; planned 2023 drilling to target porphyry core.
  • Athelstan-Jackpot (AJ): 2 former gold mines with extensive mine dump material grading up to 1oz/t gold; 2023 plan to test gold extraction from dumps using “environmentally friendly” gold recovery system.
  • The Crackingstone Uranium: Review of exploration data shows good potential for “Rare Earth Elements – REEs“. 2023 plans to re-assay 2008 drill core for REE’s which was previously only assayed for uranium.
  • The Lone Star Copper-Gold: optioned to Australian Marquee Resources ASX:MQR; MQR spending $2.5M in drilling and must produce PEA to earn 80% interest; MQR completed new resource in Dec. 2022 now working on PEA.
  • The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin.: Optioned 10% of property to Australian Marquee Resources MQR; MQR spending $2.5M in drilling for potential deep seated lithium brines, to earn 80%. MQR plans to continue drilling in 2023.
Belmont Resources properties

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061

Email: george@belmontresources.com

Website: www.BelmontResources.com

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